Allianz Asset Management GmbH Takes $1.46 Million Position in SkyWest, Inc. (NASDAQ:SKYW)

Allianz Asset Management GmbH acquired a new position in SkyWest, Inc. (NASDAQ:SKYW - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,681 shares of the transportation company's stock, valued at approximately $1,457,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Hohimer Wealth Management LLC raised its holdings in shares of SkyWest by 4.7% in the 1st quarter. Hohimer Wealth Management LLC now owns 2,829 shares of the transportation company's stock worth $247,000 after acquiring an additional 126 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in SkyWest by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,145 shares of the transportation company's stock worth $415,000 after purchasing an additional 131 shares in the last quarter. Comerica Bank raised its stake in shares of SkyWest by 1.1% in the fourth quarter. Comerica Bank now owns 14,786 shares of the transportation company's stock worth $1,481,000 after purchasing an additional 161 shares during the last quarter. Xponance Inc. lifted its holdings in shares of SkyWest by 5.9% in the first quarter. Xponance Inc. now owns 2,974 shares of the transportation company's stock valued at $260,000 after purchasing an additional 166 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of SkyWest by 11.5% during the first quarter. GAMMA Investing LLC now owns 1,741 shares of the transportation company's stock valued at $152,000 after buying an additional 180 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company's stock.

Wall Street Analysts Forecast Growth

SKYW has been the subject of a number of analyst reports. Raymond James Financial increased their price target on SkyWest from $128.00 to $140.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Evercore ISI increased their target price on shares of SkyWest from $120.00 to $130.00 and gave the company an "outperform" rating in a report on Monday. The Goldman Sachs Group upgraded shares of SkyWest from a "neutral" rating to a "buy" rating and cut their price target for the stock from $119.00 to $117.00 in a report on Tuesday, April 8th. Finally, Wall Street Zen upgraded shares of SkyWest from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SkyWest presently has an average rating of "Buy" and an average target price of $126.75.

SkyWest Stock Performance

SkyWest stock traded down $6.85 during trading on Friday, hitting $109.11. The stock had a trading volume of 414,950 shares, compared to its average volume of 413,281. The stock's 50 day moving average is $105.33 and its two-hundred day moving average is $100.10. SkyWest, Inc. has a 1 year low of $64.61 and a 1 year high of $135.57. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 1.16 and a beta of 1.88. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 0.78.

SkyWest (NASDAQ:SKYW - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The transportation company reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.34 by $0.57. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $979.95 million. SkyWest had a return on equity of 16.69% and a net margin of 10.62%. The business's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.82 EPS. As a group, analysts predict that SkyWest, Inc. will post 9.01 EPS for the current year.

SkyWest announced that its board has authorized a stock repurchase plan on Wednesday, May 7th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the transportation company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at SkyWest

In other news, CFO Robert J. Simmons sold 17,000 shares of SkyWest stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $103.75, for a total value of $1,763,750.00. Following the completion of the transaction, the chief financial officer owned 131,203 shares in the company, valued at $13,612,311.25. This trade represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James L. Welch sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $118.25, for a total transaction of $1,182,500.00. Following the completion of the transaction, the director directly owned 37,717 shares of the company's stock, valued at approximately $4,460,035.25. This trade represents a 20.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 83,000 shares of company stock valued at $9,004,130. Insiders own 2.00% of the company's stock.

About SkyWest

SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest's airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.